Press Release Details
Fairfax Sells Its Position in Reitmans
Not for distribution to U.S. news wire services or dissemination in the United States.
TORONTO, Aug. 07, 2019 (GLOBE NEWSWIRE) — Fairfax Financial Holdings Limited (“Fairfax”) (TSX: FFH and FFH.U) announces that, as a result of the substantial issuer bid (the “Issuer Bid”) by Reitmans (Canada) Limited (“Reitmans”), 7,392,900 Class A non-voting shares (the “Class A Shares”) of Reitmans held by Fairfax through its subsidiaries (representing approximately 14.82% of the issued and outstanding Class A Shares), were repurchased by Reitmans at a price of C$3.00 per Class A Share. Fairfax and its subsidiaries no longer hold any Class A Shares and are no longer required to report any further trading in Class A Shares, provided that its ownership or control remains below 10% of the issued and outstanding Class A Shares.
Fairfax tendered its Class A Shares to the Issuer Bid in the normal course of its investment activity. Fairfax may determine to purchase additional Class A Shares in the open market or otherwise or sell some or all of such acquired Class A Shares, depending upon price, market conditions, availability of funds, evaluation of alternative investments and other factors.
An early warning report will be filed by Fairfax in accordance with applicable securities laws and will be available on SEDAR at www.sedar.com or directly from Fairfax.
Fairfax’s registered and head office is located at 95 Wellington Street West, Suite 800, Toronto, Ontario, M5J 2N7.
Fairfax is a holding company which, through its subsidiaries, is engaged in property and casualty insurance and reinsurance and the associated investment management.
For further information contact:
John Varnell, Vice President, Corporate Development at (416) 367-4941